In order to trade stocks online you will need a brokerage account. It is here where you deposit the funds you’ll trade with. Your brokerage account is also where you’ll be placing your trades.
I use and highly recommend Scottrade for several reasons, for stocks. First they have a knowledgeable staff that will answer all your questions with regard to the phone, in person or on the web. Secondly, they have hundreds of offices throughout the US. You can actually walk in and hand a real person your trading funds. Third, you can buy or sell as many stocks as you wish for the low price of only $7. Fourth, they do not put holds on your money, as least they never have for me. What this means to you is that when you deposit your funds, you can begin trading right away before the money even clears. Many brokerages make you wait 3-5 business days before you can reach your funds.
Trading options with scottrade
As many of you saw when the internet bubble burst, many of you cannot trust your stock broker to make the right financial decisions for you. Most stock brokers are mere sales agents who’re given a listing of the stocks from senior management and told to advise their clients to get into them. Online stock trading allows you place your own trades. It also enables you to save a boat load on trading commissions and truly take control of you financial future.
I suggest you visit Scottrade’s website right now to search for an office near you. If you use the code, URJG0606 when you sign up, they’ll give you a lot of free trades.
I likewise have a trading account with TradeKing. They have excellent tools for researching and trading stock options. Their costs per trade are extremely low for trading options. If you want to trade options, I suggest you open an account with them online.
Before you start trading, I have one more tip for your brokerage account. I recommend you link your brokerage account with your personal bank account. In this manner you can easily transfer money in and outside of your brokerage account. This comes in handy if you intend to trade stocks for a living and need monthly or weekly withdraws to pay your living expenses.
Once you have your account set up, you’ll be ready to start trading. Before you do that, you will need to put together a successful trading strategy and be in a position to find stocks ready to go or down depending on the way in which you’re investing in them.